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Pound slumps against dollar after BoE move

Pound down 2% against dollar after BoE rate hike
Source: Pixabay

The British pound tumbled against the dollar Wednesday despite the Bank of England snapping up UK government bonds to try and bring calm to markets.

Sterling dropped 1.5 percent to $1.0570 shortly after the BoE intervention.

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Agence France-Presse (AFP) is a French state-owned international news agency based in Paris. It is the world's oldest news agency, having been founded in 1835 as Havas.

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